Saturday, December 10, 2022

Investment in real estate so far this year already exceeds 2021 total

Real estate investment by the end of the third quarter is already higher than all of 2021, confirming the sector’s forecast for a record year of transactions, although in recent months there has been uncertainty due to macroeconomic doubts and rising interest rates. may arise. According to data provided by the consulting firm, as of 30 September, the volume of operations reached 12,718 million euros compared to 11,926 million, with which the full year of 2021 was closed. Cushman and Wakefield (C&W).

The figure as of September is higher than previous years in the series, including 2017 and 2018, with practice at its highest level in recent times. This is due to the high level of liquidity that exists in the market interested in investing in real estate prior to the rate hike. Similarly, relevant foreign capital comes out as the protagonist of 58% of the invested capital.

“There is no doubt that the first half of the year has been very active with good investment volume across all sectors,” explains Jason Clarke, capital markets partner at C&W. “That said, investor demand is increasingly cautious due to the current volatility in financial markets and rising interest rates, despite the existence of multiple operations in the market, which could impact transaction volumes in the previous quarter due to the closure process.” , he insisted.

from Cushman & Wakefield, a consultation led by oriole barachina In Spain, they explain the growth as the market has experienced large operations. The largest of them, the portfolio of bank branches repurchased by BBVA from Merlin Society for 2,000 million euros in the retail segment.

Also notable was the acquisition of the Resa Portfolio in the Student Residence sub-section (formed within the residential) by the PGGM Fund for approximately 900 million, or the purchase of the Caixabank headquarters (18,700 m) by Inmo Criterion (INMOCAXA) for 239 million. Million in Paseo de la Castellana 51 in Madrid in the office section.

by sections, retail It is he who weighed the most (30% of the volume) due to the purchase of BBVA offices; followed by residential (28%); Office (18%); and hotels (17%), while the logistics sector accounted for 6%.

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